Here are 10 reasons why your business needs branding
Many small businesses feel that having a strong brand identity is not needed but for large companies to do. Many small businesses invest in a logo for their business and forget that brand identity is not all about just giving a visual impression through the logo.
Your business still has brand without logo.
Brand is an impression that forms a special connection with your target audience. Brand is a complete package that doesn’t include just a logo but a complete impression about your business leave with customers, what they say and what it is like to do business with you.
Small businesses can reap benefits of a brand that showcases who they are, provides visibility and trust about business. Strong brand identity communicates your promise, message and values. It is the perception the world has about your business.
1. Brand influences customers
Positive reviews about products attract competitor customers if you have a good brand name. Many times your strong brand acts as alternatives to original products.
For example, Pepsi and Coke always preferred better quality products due to brand.
2. Brand expand the business
Brand attracts a wider audience and helps you reach to newer areas, regions and segments. This further increases sales and provides huge benefits. For example, McDonald has been able to open their chain in different parts of the world with ease.
3. Brand earns customer loyalty
In era of digital revolution, the most sought out things is the customer loyalty. Even above customer satisfaction where there are few chances customers will return. Loyal customer will always come to you again and again. Pure focus on customer satisfaction, you need to focus on price sensitivity and competitive promotions. A good customer loyalty helps your business to better reach the prospective customers with the word of mouth which acts as the best form of advertisement. For example, Toyota cars enjoy brand loyalty like none.
4. Brand increases sales
Sales increases rapidly with improved awareness about your brand. Brand reaches to more and more users who believe in your products and services and your business helping increase in sales. For example, Amazon always succeeds in increasing it's sales.
5. Brand protects from competitors
Good brands always get better preference from educated users. Buyers always buy the products from their preferred brands, even if there are plenty of copycats at lower prices. This is how brands help you provide protection from competition. For example, Tesla couldn't be challenged by competitors.
6. Brand makes business look bigger
When prospective buyers see a professionally designed brand consistently visible across various marketing collateral such as a business card, website, social media profiles, they form the image of a company that deserves their business. Prospective buyers always like to rely upon business with resources to help them succeed. Brands help you make your company look bigger so prospects expect to pay more for an established business. For example, Twitter survived many copycats.
7. Brand creates identity that is bigger than you
Most often small businesses owners build a brand around themselves than business. Brands help you to create an identity bigger than yourself or any person. This makes it easier for the person to get identified with a brand. For example, everyone in social media knows Facebook but need not know it's founder.
8. Brand helps introduce new products
Every for profit business aims for business expansion. With brand name, small businesses easily introduce new products to market. Due to the already established brand, associated faith in similar services and quality new products also get a well deserved response with complete trust. As you already have complete knowledge about customer expectations from previous experience. For example, Apple launched new products riding on the success of their past product.
9. Brand increases value of the company
In terms of accounting language, brandis intangible and valuable asset. In comparison with businesses having the same resources, the business with good brand name will be measured at higher valuation. For example, WhatsApp was valued higher.
10. Brand communicates stability of business
Are you interested in creating new brand for your business or rebranding your existing business? We can help you with that. Sukathaa Design team offers a wide range of design services to build great brand identity that meet your exact needs. Not happy with current brand impression of your business? No problem. Sukathaa design team can help you to create valuable and thoughtfully designed brand collateral for your business.